O-I Glass’ (OI) “Underperform” Rating Reaffirmed at Bank of America

Bank of America restated their underperform rating on shares of O-I Glass (NYSE:OI) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a $11.00 price objective on the industrial products company’s stock.

A number of other equities analysts have also issued reports on OI. UBS Group decreased their price target on O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Weiss Ratings lowered O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $18.00 to $13.00 in a report on Friday, March 20th. Truist Financial reaffirmed a “buy” rating and set a $14.00 target price (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Finally, Citigroup dropped their price target on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.86.

O-I Glass Stock Down 11.8%

O-I Glass stock opened at $8.46 on Tuesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -6.94, a PEG ratio of 1.13 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The company’s 50-day moving average price is $9.01 and its two-hundred day moving average price is $11.61. O-I Glass has a 52 week low of $7.75 and a 52 week high of $16.91.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business earned $0.40 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, analysts expect that O-I Glass will post 1.17 EPS for the current fiscal year.

Insider Transactions at O-I Glass

In related news, SVP Randolph L. Burns bought 11,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the completion of the transaction, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. This trade represents a 8.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Darrow A. Abrahams acquired 2,774 shares of O-I Glass stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $9.04 per share, with a total value of $25,076.96. Following the completion of the purchase, the senior vice president directly owned 235,928 shares of the company’s stock, valued at approximately $2,132,789.12. This represents a 1.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 17,083 shares of company stock valued at $157,312 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Farther Finance Advisors LLC raised its position in O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the period. Optiver Holding B.V. boosted its position in O-I Glass by 491.5% during the 1st quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 2,074 shares during the period. Headlands Technologies LLC acquired a new stake in O-I Glass during the 2nd quarter worth about $29,000. Quarry LP purchased a new position in O-I Glass during the 4th quarter valued at about $32,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,192 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.